To all, have I told you POKR is a profitable company?
Company Press Release
SOURCE: Casino Airlink, Inc.
Casino Airlink Reports 62% Increase In First Quarter
Profit
Company Also Notes Meaningful Improvement in All Key Business
Indicators
FORT LAUDERDALE, Fla., April 27 /PRNewswire/ -- Casino Airlink, Inc. (OTC Bulletin Board:
POKR - news), today reported net income of $500,507, or $.08 per share, for the first quarter
ended March 31, 1998, representing an increase of 62% over net income of $308,590, or $.03 per
share, for the first quarter of 1997. Revenues for the first quarter of 1998 totaled $4,510,123,
compared to revenues of $5,443,622 during the same period in 1997.
Casino Airlink also reported that all key indicators of its business performance showed meaningful
improvement over last year's first quarter, including a price per passenger increase of 8.5%, a 4.5%
increase in the total number of passengers, and an increase in load factors of 6.3%. Based on these
current trends in its business, the senior management of Casino Airlink remains confident that the
Company will report a profit from operations during each of the remaining quarters of 1998, as well
as further improvements in its key business indicators for the year as a whole.
Commenting further, William G. Forhan, Chief Executive Officer of Casino Airlink, said, ''As our
results demonstrate, we are on target to meet the key goals laid out in our business plan. The steps
taken to improve operating efficiency and gross margins have resulted in significantly enhanced net
profitability during the recently ended quarter. We are now moving forward to implement additional
strategies which we expect will result in a meaningful expansion of the Company's rate of growth and
profitability. Chief among our plans is the expansion into new markets, a process we expect to begin
over the next two quarters, and the development of new products and services. Furthermore, as we
are on the verge of completing efforts to secure additional capital, we plan to move ahead with our
acquisition program, seeking travel- related companies that can add to our product mix and provide
enhancements to growth, profits and shareholder value.''
Casino Airlink is a wholesale travel company that is currently the exclusive provider of packaged
casino vacations from five cities in Florida and Atlanta, Georgia to the Mississippi Gulf Coast.
Casino Airlink provides non-stop, round trip jet service, destination airport transfers, ground
handling, 2-3 night deluxe hotel accommodations, nightly buffet meals and access to 24-hour Las
Vegas style gaming and entertainment. The Company delivered more than 85,000 passengers to the
Mississippi Gulf Coast area via their chartered and scheduled air service in 1997.
COMPARATIVE OPERATING HIGHLIGHTS
For the Three Months Ended
March 31, 1998 March 31, 1997
Revenues $4,510,124 $5,443,622
Net Income $500,507 $308,590
Earnings Per Share (Basic) $.08 $.06
Earnings Per Share (Diluted) $.04 $.03
Weighted Average Shares
Outstanding (Basic) 6,352,395 5,299,000
Weighted Average Shares
Outstanding (Diluted) 12,052,395 10,999,000
Statements about the Company's future expectations, including future revenues and earnings, and all
other statements in the press release other than historical facts are ''forward-looking statements''
within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends
that such forward-looking statements be subject to the safe harbors created thereby. Since these
statements involve risks and uncertainties and are subject to change at any time, the Company's
actual results could differ materially from expected results.
SOURCE: Casino Airlink, Inc. |
